Real Estate News

Over the past year, the Austin housing market has returned back to a buyers market after months of seller advantages including low inventory, multiple offer situations, and record-low mortgage rates following the 2020 pandemic. Buyers that were previously on the fence about purchasing a home under those conditions are now offered an opportunity to take advantage of the current market conditions and purchase a property. Inventory is steadily increasing, home prices are still increasing but at a more sustainable rate, and mortgage rates recently dipped to the mid 6’s during the first week of 2023. 

Here are 4 top reasons why NOW is the time to buy: 

1. It’s a true buyer’s market
2. Little-to-no multiple offer situations
3. Mortgage rates continue...

Austin has had one of the hottest real estate markets for a few years now, and it only continues to rise. Current average home prices are breaking new records according to the Austin Board of Realtor's stats. The demand is so high that the homes are flying off the market. Hundreds of companies are flocking to Austin constantly and about 170 people move to Austin every day. 





So far in 2021, 1,440 Austin homes have sold for between $100,000 and $299,999 above the asking price. Also, 72 have already sold for $300,000 or more above the asking price, per a recent study from Redfin. We do not foresee...

      Year over year statistics for April from Austin Board of Realtors.

1. These are wildflowers. Where and when they’ll show up is something that changes from year to year. A place that had a thick carpet last year isn’t guaranteed a repeat performance. Weather plays a big factor in when, where and how bluebonnets bloom.

2. When you get word of a good bluebonnet spot, don’t wait. A few days can make a difference in the quality of the blooms. Word gets around about nice thick patches and if you wait too long, the flowers will have been trampled by little feet and won’t be as fresh.

3. Get out of the cities. While we’ve scouted out some known spots where these flowers pop up every year, you’re not going to find them growing out of the sidewalk in downtown Austin. Parks, lakes and backroads are...

“Although the winter storms slowed activity in February, this does not indicate a market slowdown. We’re still very much in a sellers’ market,” This according to Susan Horton, 2021 ABoR president, said. “Across the region, a high quantity of offers, cash offers, and requests to waive appraisals or option fees are increasingly commonplace. Transaction contracts are complex with negotiations that require the expertise of a REALTOR® to navigate.”

The year over year statistics show the continued boom. The median sales price in the Austin area is up 22% this month at $395,000. The homes closed are at 2,389, which is down 8%. This is mainly due to the snowstorm. Homes spent half the time on the market at an average of only 31 days. Pending sales, new listings, and active listings are all down which all adds up to decreased inventory....

Culhane Premier Properties is proud to announce that it has joined eXp Realty!  eXp is one of the fastest growing real estate companies in the country and we are very excited to harness the power of this amazing brand and expand our client’s opportunities.

Our Owner and Broker Associate, Shawn Culhane said, “After over 10 years as an independent brokerage, we have finally found a partner that will elevate our clients’ and agents’ success without sacrificing our commitment to service and client care.”

Mike Weigand, our Team Leader and Broker Associate says, “Everyone here at Culhane is very excited to become one of the largest eXp teams in Texas. As the largest eXp team in Austin, we are looking forward to continuing to create lifelong...

Austin-Round Rock MSA closes year with record-breaking $17B housing market 

“The Central Texas housing market is incredibly competitive and moving at lightning speed right now,” Susan Horton, 2021 ABoR president said. “The complexity of a home sale is at an all-time high as it has become commonplace for homes to receive multiple offers well over list price. Whether you’re a homebuyer or a home seller, it is more important than ever to work with a REALTOR® who deeply understands your local area and can navigate the near-zero inventory market on your behalf.”

“The Austin-area real estate market is experiencing extraordinarily high demand fueled by years of high population growth and employment gains, lifestyle changes following...

The ABoR Central Texas Housing Market reports continued strength across the five-county area in the month of September. Sales dollar volume jumped 51.7% (now up to $1,779,067,529) and the median price rose 12.1% to $355,000. The number of new listings has increased 5%, pending sales increased over 28%, while inventory for active listings decreased almost 50% compared to last year.

Homes are currently seeing an average of 37 days on market, (2 weeks fewer compared to 2019). Historically this time of year shows a slow down in real estate activity, but with the covid-19 impact pushing back the spring market, summer selling season extended into September and beyond.

“The housing market is pumping billions of dollars into our region’s economy at a time it’s greatly needed, but we also need to be cognizant of the impact such rapid activity is having on record-low...

Austin remains one of the nation’s fastest growing cities with an average of 169 people moving to metroplex daily. Growing by more than 60,000 new residents per year, the Austin real estate market remains extremely low on inventory, making it a great time to take advantage of the seller’s market! As we move into Fall, we see no signs of our market slowing down. If you are thinking of selling, NOW IS THE TIME!

This summer alone (June 1-Sept. 21), waterfront property sales on Lake Austin, Lake LBJ, and Lake Travis have increased over 66%, even with the covid-19 impact. All 3 lakes saw an increase of waterfront sales price & saw equal or fewer average days on market.  

            Lake Austin saw sales prices increase over 69% compared to the previous year, with a total of 82 properties...

2020 Is Predicted to be Another Record Breaking Year

Below is an excerpt of the Austin Board of Realtors February Press Release

Compared to January 2019, residential home sales in the Austin area increased 8.5% to 1,947 sales, and the median price increased 4.8% to $308,000, setting a record for the month of January. Housing inventory–which fell to 1.6 months–was driven to critically low levels across the [area] due to drops in both new and active listings. At the same time, increases in pending sales activity in January could signal further declines in inventory in the year ahead amidst strong housing demand.

Romeo Manzanilla, 2020 ABoR president, said. “We expect to see a significant increase in activity in the spring, when market activity should climb naturally.”

Lawrence...

Culhane Premier Properties was proud to be part of two record setting transactions in 2019.  402 Spiller Lane is a property with some of the most amazing city views in all of Austin.  The unique West Lake Hills location allowed for 180-degree unobstructed views of the city skyline which resulted in a price per square foot record for that area.  Brad Emerson in our office represented the seller while Jeff Brown also in our office represented the buyer.

Another record-breaking view property was 8137 Lake Mountain Lane which was the highest Lake Travis view property sold this year....

If you didn’t put your home on the market this summer, don’t worry. Your chance at selling success in 2018 hasn’t passed you by. There are actually three unique benefits sellers can enjoy by listing in the off-season.

1. Buyers in the off-season months tend to be more serious. During the peak of the market, many buyers are more curious than committed. The buyers that sellers encounter during the off-season, meanwhile, are often highly dedicated to striking a deal.
   

2. There is less competition in the off-season. In most markets, the majority of homes are sold between April and August. Listing in the off-season will therefore allow you to avoid competition while simultaneously enjoying a higher level of demand....

Jobs are a necessary part of live for most people. Paying bills, providing a home and putting food on the table matters to most people.

In Texas, it may be easier to find a job than any other state in the country. This is because of the top ranking the state received, once again from Site Selection Magazine. For 2016, Texas became the Governor's Cup winner when it came to corporate expansion with the largest number of qualified projects for any state in the country. The award started in 1988 and has been given out every year since using three criteria for qualified projects:

• Adds 20,000 or more square feet
• Creates at least 20 jobs
• Involves at least a $1 million capital investment

Texas came out at the top this year and shows...